OIL executives to join nation wide stir

Guwahati, May 30 (UNI) The Executive Employees Association of Oil India Limited has extended full support to the indefinite strike, called by the Oil Sector Officer's Association (OSOA) from May 31 for non-fulfillment of various long pending demands of the officers of the Oil PSUs.

According to a release, for the last three years the OSOA had been pursuing different issues with the Ministry of Petroleum and Natural Gas (MoP& NG) like periodicity of pay revision, DA neutralisation, DA merger and stagnation.

With the opening up of the Indian Oil and Gas industry and the entry of several private players, retaining talent had become a major issue for the PSU Oil majors. Earlier, it was mainly retired officers of the Oil PSUs, who were provided with lucrative employment opportunity by the private oil companies. However, in the recent years, MNCs and the private Oil companies had been able to poach talented professionals both young and experienced from the Oil PSUs by offering much higher remuneration package and career opportunities.

Keeping in view the onslaught of fierce competition, there was an urgent need for adequate revision in salary&compensation for the oil PSU officers to attract the best talent and to retain their core competence and talent, the association said.

This was required for the very existence of the oil sector PSUs.

MOP&NG and Managements of Oil PSUs were fully convinced that there was an urgent need for addressing these issues on priority basis, it added.

UNI MT SJC VD VV1717